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The Global Electric Scooter Market Is Anticipated to Generate a Revenue of $10,317.4 Million, Growing at a CAGR of 7.9% from 2021 to 2028

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The global electric scooter market size to be valued at $10,317.4 million by 2028, surging from $5686.0 million in 2020, at a noteworthy CAGR of 7.9%.

Analysis of Covid-19 Impact on Electric Scooter Market

The Covid-19 impact on electric scooter market share has been moderate. The restrain in the global industrial production due to imposed lockdowns across the globe has disturbed supply chain manufacturing industry, hindering the growth of electric scooter market. The major companies in this sector such as HONDA MOTOR CO., LTD., Terra Motors Corporation, and others have experienced a reduction in demand in the electric scooter market. These factors are expected to negatively impact the market growth.

The coronavirus pandemic has enforced the companies in the electric scooter industry for the adoption of new methods of operation such as implementation of predictive analytics to forecast losses accurately and virtual monitoring of the production of electric scooters. These developments are anticipated to aid in mitigating the impact of COVID-19 pandemic on the global electric scooter market demand.

Global Electric Scooter Market Analysis

Increasing traffic congestion that leads to long journeys paves the way for commuters to find convenient, time-efficient, and affordable transportation to reach their destinations. Light vehicles such as electric scooters and bicycles provide a very comfortable solution to the specific requirements of urban mobility. These factors are expected to aid the growth of electric scooter market. As micro mobility is gaining momentum, industry players have developed car-sharing alternatives that allow people to refrain from purchasing micro mobility vehicles. Commuters can now rent vehicles via mobile speeds. These factors are expected to aid the growth of this market.

However, the complex nature of technology involved in the electric battery development, which requires highly skilled workforce with majority of its manufacturers in the developed countries, can act as a barrier in the transfer of technology in the developing and underdeveloped regions. These factors are expected to hamper the growth of this market.

The electric scooter market trends such as new innovations in the field of battery technology are expected to propel the market growth. For instance, in October 2021, Mahle Powertrain and UK-based Allotrope Energy, launched in partnership, a new battery technology that can revolutionize EV charging. It is lithium-carbon technology, it offers ultra-fast recharging with good power density. It would suit a wide range of small EVs, including e-scooters. Lithium-carbon technology has been created by combining the benefits of supercapacitors and traditional lithium-ion batteries. The final development is a battery cell that can be recharged quickly and still retain good energy density. It is also stable at high temperatures and thus, permits high current delivery and fast recharging. Developments like these are expected to open new scope of opportunities for the electric scooter market in the forecast period.

Global Electric Scooter Market, Segmentation

The global electric scooter market is segmented based on voltage, battery type, speed, and region.


The voltage segment is further classified into 36, 48V, 60V, and 72V. Among these, the 72V sub-segment is expected to be the fastest and surpass $2,521.5 million by 2028, with an increase from $1,357.9 million in 2020.

The increasing utilization of 72V voltage batteries in electric scooters is expected to aid the growth of electric scooters in the forecast period. For instance, in August 2020, India based company, “Simple energy”, launched the electric scooter Mark2 with a range of 180km in Sport, 220km in Normal mode and 260-280km in Eco mode. This scooter is equipped with the IP67-rated 72V 4.8kWh removable li-ion battery pack, developed by Panasonic. The growth in the utilization of 72V batteries for high electric speed scooters is expected to aid the growth of this sub-segment in the forecast period.

Battery type:

The battery type segment is further classified into sealed lead acid, lithium-ion, and others. Among these, lithium-ion sub-segment is anticipated to be the fastest growing sub-segment in the forecast period and surpass $3,291.8 million by 2028, with an increase from $1,762.2 million in 2020.

The continuous decrease in the cost of lithium-ion battery over a period of time in the last decade has made the incorporation of lithium-ion batteries more cost effective for the manufacturers in the electric two wheelers vehicles. The prime reasons for the cost reduction of lithium-ion batteries were research-and-development-related activities. That included both private sector and government-funded research and development, and the majority share of cost decline within that R&D category came from chemistry and materials research. These factors are expected to contribute to the growth of this sub-segment in the forecast period.


Based on speed, the market has been sub-segmented into low speed and high speed. The high-speed sub-segment is projected to be the fastest growing in the global market and register a revenue of $4,712.1 million during the forecast timeframe of 2021-2028.

The increasing demand for electric two wheelers that have high displacement and can travel longer distances in small amount of time is aiding the growth of this sub-segment. The increasing number of new launches, for instance, in September 2021, Indian mobility company, OLA, announced the launch of its high-speed electric scooter Ola’s electric scooters Ola S1 and S1 Pro in the year 2022, is expected to aid in the growth of the high speed sub-segment during the forecast period.


The electric scooter market for the Asia-Pacific region generated a revenue of $2,027.1 million in 2020 and is further projected to reach up to $3,794.7 million by 2028. The Asia-Pacific region is expected to be the fastest growing as well as dominating region for the electric scooter market in the forecast period

The major manufacturers of electric scooter are in China, Taiwan, and Japan. China has emerged not only as a major consumer of electric scooters, but also as a major manufacturer and exporter. Vendors active in the Chinese market include Jiangsu Niisato Electric Vehicle Co., Ltd., Yadea, AIMA Group, Zhejiang Luyuan, and Niu International. In addition, regional markets are driven because of rapid urbanization, increased consumer awareness about increasing affordability of scooters, and by the use of clean energy transport to curb vehicle emissions. These factors are expected to aid the growth of electric scooter market in the Asia-Pacific region.

Key Players in the Global Electric Scooter Market

Some of the leading global electric scooter market players are

  1. Greenwit Technologies Inc
  2. Alta Motors
  3. Terra Motors Corporation
  4. Vmoto Limited
  6. Gogoro Inc.
  7. Boxx Corp.
  10. Johammer e-mobility GmbH.

 Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.

Porter’s Five Forces Analysis for the Global Electric Scooter Market:

  • Bargaining Power of Suppliers: There are moderate number of suppliers in the electric scooter market. Across the world there are different organizations working in the field of electric scooter market to get a competitive edge in the market.
    Thus, the bargaining power suppliers is moderate.
  • Bargaining Power of Buyers: The buyers in market have high bargaining power, therefore the suppliers in the electric scooter market focus on providing superior quality services in a cost-effective manner.
    Thus, the bargaining power of the buyers is high.
  • Threat of New Entrants: The companies that are entering in the electric scooter market emphasize on launching new products such as electric moped, ninebot scooter, segway scooter, motorized scooter, and others. 
    The threat of the new entrants is moderate.
  • Threat of Substitutes: The electric motor bikes are an alternative to the electric scooters.
    Thus, the threat of substitutes is moderate.
  • Competitive Rivalry in the Market: There is a high competitive rivalry between companies in the electric scooter market including HONDA MOTOR CO., LTD., and Terra Motors Corporation.
    Therefore, competitive rivalry in the market is high.
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